Answer:
Option A,$ 1,832.91 is correct
Step-by-step explanation:
The monthly payment can be computed using the below pmt formula i excel shown below:
=pmt(rate,nper,-pv,fv)
rate is the monthly rate on the mortgage which is 17.5%/12=0.014583333
nper is the number of months of payment i.e 30*12=360
pv is the amount of the loan which is $125,000
fv is the total amount of repayment which is unknown
=pmt(0.014583333
,360,-125000,0)=$ 1,832.91
The correct option is A,$ 1,832.91 which is the amount of money they need to pay back on the mortgage for 360 months
We know that
<span>Each pie was cut into six slices
</span><span>there are a total of 48 pieces-----> divide by six to find the number of pies
48/6----> 8 pies
</span><span>Two of the pies will be served to members of the department as courtesy
</span>so
subtract 2 to the total of pies to find the pies available for sale
<span>whole pies available for sale=8-2-----> 6 pies
the answer is
6 pies</span>
Basically explain how you managed to get the answer that you got
